Swedbank AB Invests $5.48 Million in The Allstate Co. (NYSE:ALL)

Swedbank AB bought a new position in The Allstate Co. (NYSE:ALL) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 31,674 shares of the insurance provider’s stock, valued at approximately $5,480,000.

Other institutional investors have also recently modified their holdings of the company. E Fund Management Hong Kong Co. Ltd. purchased a new stake in shares of Allstate during the first quarter valued at $25,000. Private Wealth Management Group LLC bought a new position in Allstate in the fourth quarter valued at about $25,000. Rise Advisors LLC bought a new position in Allstate in the first quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new position in Allstate in the first quarter valued at about $26,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Allstate in the fourth quarter valued at about $36,000. 76.47% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Allstate

In related news, insider Suren Gupta sold 45,775 shares of the firm’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $177.28, for a total transaction of $8,114,992.00. Following the completion of the sale, the insider now directly owns 89,930 shares of the company’s stock, valued at approximately $15,942,790.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.80% of the company’s stock.

Allstate Price Performance

NYSE ALL traded down $0.56 during trading on Friday, hitting $176.82. 1,699,634 shares of the stock traded hands, compared to its average volume of 1,456,058. The company has a market capitalization of $46.69 billion, a P/E ratio of 39.03, a price-to-earnings-growth ratio of 1.86 and a beta of 0.48. The firm has a 50-day simple moving average of $164.68 and a 200-day simple moving average of $164.17. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.49. The Allstate Co. has a 12-month low of $104.29 and a 12-month high of $180.87.

Allstate (NYSE:ALL) last announced its earnings results on Wednesday, July 31st. The insurance provider reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $0.33 by $1.28. The firm had revenue of $15.71 billion during the quarter, compared to analysts’ expectations of $14.04 billion. Allstate had a return on equity of 24.05% and a net margin of 5.03%. The company’s quarterly revenue was up 12.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.42) EPS. As a group, analysts predict that The Allstate Co. will post 13.64 EPS for the current year.

Allstate Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, August 30th will be issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, August 30th. Allstate’s dividend payout ratio (DPR) is 81.24%.

Wall Street Analyst Weigh In

ALL has been the topic of a number of recent research reports. Roth Mkm increased their target price on Allstate from $175.00 to $200.00 and gave the company a “buy” rating in a report on Monday, April 8th. Morgan Stanley decreased their price objective on Allstate from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 10th. Bank of America raised their price objective on Allstate from $213.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised Allstate from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $194.00 price objective on shares of Allstate in a research note on Friday, July 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $183.24.

Allstate Company Profile

The Allstate Corporation, together with its subsidiaries, provides property and casualty, and other insurance products in the United States and Canada. It operates in five segments: Allstate Protection; Protection Services; Allstate Health and Benefits; Run-off Property-Liability; and Corporate and Other segments.